Fetch.AI (FET) Looking At A Different Type Of Setup
Ok, we looked at MTHBTC and the higher low chart setup... It ends up with prices moving higher but this one is different... Let's have a look.
For FETBTC we have a falling wedge but there is no low followed by a higher low...
Instead, we see prices first printing a strong decline, and little by little they start to curve.
When we look at the end of the falling wedge, 5th November, same date, prices completely stop the drop...
Now it starts to go sideways; consolidation...
What's comes next? ...
The prices jump.
Let's continue with the signals...
As prices go flat we see a break first of EMA10.
We also get increasing volume and the RSI moves ahead.
Slowly but surely as time goes on, FETBTC will go bullish and grow.
This is me just reading the chart...
Trading would be a completely different game and here is how it goes.
The last low is your stop-loss and the resistance levels above it can be your targets to collect profits... That's all.
Can you see how simple this is?
Yes o no?
Share your thoughts in the comments section below.
Namaste.
For FETBTC we have a falling wedge but there is no low followed by a higher low...
Instead, we see prices first printing a strong decline, and little by little they start to curve.
When we look at the end of the falling wedge, 5th November, same date, prices completely stop the drop...
Now it starts to go sideways; consolidation...
What's comes next? ...
The prices jump.
Let's continue with the signals...
As prices go flat we see a break first of EMA10.
We also get increasing volume and the RSI moves ahead.
Slowly but surely as time goes on, FETBTC will go bullish and grow.
This is me just reading the chart...
Trading would be a completely different game and here is how it goes.
The last low is your stop-loss and the resistance levels above it can be your targets to collect profits... That's all.
Can you see how simple this is?
Yes o no?
Share your thoughts in the comments section below.
Namaste.
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